In the 21st century, there is just a one-million-dollar question that is haunting every marketer.
- What is the best marketing strategy?
- What are the best online advertising strategies?
- How to achieve the best conversion rate optimization?
- What are the key strategies for online ad optimization?
If you are looking for answers to these questions, you are at the right place. This article has been designed to provide the necessary information and resources to help you build successful strategies for improved ad spending and better results.
So without much delay, let us get straight into the article and find the answers to all these questions.
What is Online Ad Spend?
An ad spend describes the paid investment that you make towards your online advertising strategies for your business. Different advertising and spending are based on different channels and the different campaigns that you want to run.
When you understand the tracking and importance of your ad spend you will be able to measure the effectiveness of your campaigns. This will help you plan budget-friendly advertising processes that will contribute to the growth of the company. Further, you can analyze the performance of the ads and make continuous changes to improve your ads continuously.
What are the Advantages of Online Ad Spend?
Online ad spend comes in with a host of advantages. The most significant forms of online spending include –
- Cost-effective
- Global reach
- Measurable spending and output
- Targetting the right audience
- Low-cost advertising
- Engaging with the right customers
- Quick and scalable growth-driven results
- Personalization
- Increased brand awareness
- In-depth analytics
- Higher ROI
- Continuous improvement process
- Flexibility
- Reaching the right customers
What are the Best Online Advertising Strategies?
Now that we are aware of online ad spend, let us try to create the best strategies for our business. Here at Virtual Oplossing, we have tried and tested numerous strategies for successful conversions and better results. Hence we have compiled the top 7 strategies that can help you in building successful online ad strategies for your business.
Influencer Advertising
Of late, this method of marketing has gained a lot of traction. Influencer advertising is the process of advertising your business products and services with the help of influencers who have already gained a significant market presence in that niche.
For instance, if you are a tire manufacturer, you will have to get in touch with an influencer who has a market presence of people interested in the automotive sector. If you want to advertise for lip gloss, you will have to contact an influencer with an audience in the beauty niche.
With influencer marketing, you are positioning your products in the right target audience category. This will help you get the desired traffic and high conversion. The churn rate in such a practice will be low as the traffic coming to your webpage will already be filtered.
In short, influencer marketing has already become one of the most famous digital marketing strategies that are in use currently. So, plan your next ad strategy with an influencer and draw in high traffic.
Social Media Advertising
Advertising refers to showcasing your product right where the audience is. With social media advertising, you are rightfully achieving this. More than 80% of people across the globe have access to social media websites. It has also been noticed that people tend to explore different products and businesses on social media websites before they land on the website. Further, you can target the right audience based on the location, interests, and interactions that provide you with better results.
When you advertise on social media, you can not only reach the target audience in your demographics but also grab the attention of other users in nearby areas. You can also choose a specific location that can be far away from your base if you are willing to expand your location to those regions.
Pay-Per-Click (PPC) Advertising
PPC Advertising is an online advertising model that helps you target the right keywords for your business. This is similar to using SEO to increase your traffic, while PPC lets you place your keywords in different positions.
PPC works on a bidding system. If your bid is the highest, your keyword gets chosen for the particular placement. However, you will have to pay for the bid amount only when someone clicks on your keyword.
This is the biggest advantage of PPC, which indicates you need to pay only when a user clicks on the advertisement. This means that the people clicking on your ads are potential clients and you need not spend a budget on a high churn rate.
To put this in prospect, the first three results on the search result page of Google are PPC ads. Further, the top three spots receive more than 46% of the clicks, which indicates that 50% of the people do not even go down to the other results.
Good strategy along with effective content helps you to place your keywords in the top three positions. This makes it possible to drive higher traffic to your website and get successful results for your advertisements.
Podcast Advertising
Podcasts are gaining popularity as more and more people are interested in listening to discussions on various categories. The primary importance of podcast advertising is related to building brand awareness, driving considerations, and securing conversions.
This type of advertising involves two different processes that work in the form of baked-in ads and dynamic ads. Baked-in ads are the ads that the podcast hosts read out to the listeners. Dynamic ads are placed along with the podcast that varies according to the personal interests of the listeners.
Email Advertising
This is one of the oldest and most successful forms of advertising. With email advertising, you can promote your business offerings and products through newsletters. These newsletters can be weekly, daily, or monthly, depending on the type of investment that you want to make.
There are certain points that you need to consider before starting your email advertising. This includes researching potential newsletters, reaching out to potential clients, and providing the necessary documentation.
When you align your newsletter strategy according to the demographics you want to target, you will see a significant increase in the subscriber list. This increase in the subscriber list leads to higher conversion and successful ad campaigns. Sending out regular newsletters will help you drive more traffic to your website with higher conversions.
Google Local Services Ads
This is a highly localized form of advertising. This type of advertising is similar to sending out advertisements in local newspapers. This will help your business to be visible to people in a particular area. The LSA depends on the ratings, service area, hour, and other information that you want your potential clients to view.
This type of advertising is different from PPC Ads and provides information such as reviews, biographies, licenses, and other details when users click on the ads. Further, for Google Local Services Ads you need not even require a separate webpage. They can hire you and learn more about your website directly on the ad copy itself.
Amazon Advertising
Amazon advertising is one of the most popular modes of advertising for e-commerce companies. This is in fact the third most popular platform for advertising, behind only to Facebook and Amazon.
It has been found out recently that more than 50% of searches are starting directly on Amazon rather than on Google. The native Amazon advertising process helps your business to promote your products and brand in Amazon search results, product pages, and others.
Online ads on Amazon will boost your conversion rate significantly because these products present a positive impact on the Internet advertising strategy. There will not only be an increase in conversion with better results for ad spend, but Amazon advertising will also increase the brand awareness of your business.
Other tips to achieve the Best Conversion Rate Optimization
In addition to the above tips, here are a few more bonus strategies that will help you achieve conversion rate optimization. These are simple changes that will improve the overall performance of your online ads.
Web Design
The website has become an integral part of modern businesses. Having a well-functioning website is essential to gaining traction and showcasing the services and products of your business.
When you are planning online ad activities, you will need a landing page to direct the traffic. This is where you will realize the need for a webpage. Having an effective and visually pleasing website will draw in more traffic. More users will be interested in learning more about your products and offerings.
Basic strategies for building an effective web page include:
- Using a responsive design
- Including white space for visual appeal
- Having a quick loading time and no lags
Search Engine Optimization (SEO)
You must have heard about SEO, but do not know when and where to apply this. When you invest in Search Engine Optimization, you are focused on improving the ranking of your web pages on the Google SERP.
As we discussed earlier, a web page increases the visibility of your business. But for the website to be visible, it should be ranking on the first page of Google search results. This will bring in more users to your website.
The process of SEO involves identifying keywords related to your industry. Then you frame content related to these keywords and post them on your website. By optimizing your SEO practices, you can compete with other businesses and drive more traffic. More traffic means more conversions, resulting in better ad spend for your business.
The goal of SEO is to target the right audience with the right keywords. This will help your website to be visible to the right people which will boost traffic and increase conversion rates. Although this process can take some time to gain traction, but the results are worth every penny.
Content Marketing
Have you ever read a piece of article that has prompted you to make a decision? This is the power of content marketing. The process of content marketing involves businesses that indirectly advertise their product by providing users with helpful and interesting information.
When you publish articles and other pieces of content, you invite a niche-specific group of audience that wants to do business with you. An effective content marketing strategy will build your online reputation and build trust among users.
It has been found that companies that post more than 16 times a month have 4 times higher traffic in comparison to companies that do not post that often. You can further improvise your content marketing strategies by using images, infographics, videos, and other media.
Content marketing is an engaging method in advertising that is integral to successful ad campaigns. Effective content will provide you with the necessary hooks to persuade conversions on your web page.
Conclusion
You will have to create powerful strategies for achieving the desired results regarding online ad spending. Further, these strategies can only be developed after some time. You will have to make multiple attempts to improve your strategy and come up with the best winning strategy. Once you master your online spending and conversion strategies, you can scale up your business with ease.
We at Virtual Oplossing are here to provide you with successful strategies for your businesses that have been tried and tested. When you hire us for your marketing and online ads, you get the most powerful and effective tool. So why are you waiting? Get in touch with us today and scale up your business.